Shell Pakistan Limited’s (SPL) Board of Directors announced the company’s first-quarter results on May 4, 2023.
The company lost PKR 4,762 million after tax, compared to a profit of PKR 2,079 million in the same period last year.
The period saw the rupee depreciate, inflation rise, and macroeconomic uncertainty. Continued economic challenges have resulted in a slowdown in economic activity, a decrease in demand, and risks to the company’s supply security.
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The company’s finances and profitability were also negatively impacted. SPL, on the other hand, was able to maintain its market share.
To strengthen its financial position and play a responsible role in society, SPL remains committed to operational excellence and safety performance.
